On March 31, 2004, the IASB unveiled "IFRS 4--Insurance Contracts," which splits the insurance industry's entry into IFRS into two phases and gives insurers several options as to how to account for
** Account for
adjustments to asset value, including major modifications that could change the useful (i.e., depreciable) life and asset disposition changes (disposed, lost, transferred)
The software is programmed to appropriately account for
the book and tax differences and produces an all-inclusive number for calculating the Schedule M-1 adjustment.
The instructions state that taxpayers who have a "financial interest" in any account for
which the owner of record is a trust in which the taxpayer has a present beneficial interest of more than 50% of the assets or is entitled to more than 50% of the income must file an FBAR.
Similarly, he was directly involved in addressing how to make the new policy operational--setting up the systems needed to capture market value on a monthly basis and creating a new general ledger account for
unrealized gains and losses.
A method of accounting is a rule that governs when an item of income or expense will be taken into account for
federal income tax purposes.
Analysis of the fees charged in connection with deposit accounts must, at the very least, account for
the distinctions among noninterest checking accounts, NOW accounts, and savings accounts.
A financial interest also includes an account for
which the owner of record or legal title holder is (1) acting as an agent, nominee, attorney or in some other capacity on behalf" of a U.S.
In some quarters, in fact, the recently exposed frauds have made it more imperative to somehow account for
133, companies have trained and educated both the staff and management who deal with or account for
derivatives so they have a thorough understanding of the standard.
When the cap on the amount of wages taken into account for
purposes of the Medicare portion of the FICA taxes was increased to $125,000 in 1991 and then eliminated in 1994, however, clarification of section 3121(v) became critical to enable employers to determine, collect, and remit the taxes.
The final checkable account for
which fee information is reported is a NOW account for
which the institution charges no fee if a minimum balance is maintained; otherwise, the institution levies one monthly fee with no check charges.
704(b) regulations to account for
The FASB wanted to account for
stock options as a compensation expense...
The entity's inexperience with such derivatives may lead it to incorrectly account for
the deposit, such as treating it as inventory cost, thereby increasing the risk that the contract will not be identified for subsequent adjustment to fair value.